David Aldrich
About David Aldrich
David Aldrich (age 76) is an independent director of Mobix Labs (MOBX) serving since February 2021 and currently a Class II director with a term expiring at the 2026 annual meeting. He is the former CEO of Skyworks (2002–2016) and later served as its Chairman (2018–2021). He holds a B.A. in political science from Providence College and an MBA from the University of Rhode Island, and has been recognized as Ernst & Young New England Entrepreneur of the Year (semiconductor) and Massachusetts Technology Leadership Council CEO of the Year. The Board has determined he is independent under Nasdaq rules.
Past Roles
| Organization | Role | Tenure | Committees / Impact |
|---|---|---|---|
| Skyworks | Chief Executive Officer | 2002–2016 | Led growth of high-performance mobile communications company; industry recognition (E&Y Entrepreneur of the Year; MTLC CEO of the Year) |
| Skyworks | Chairman | 2018–2021 | Board leadership post-CEO |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| indie Semiconductor | Director | Current | Public company directorship; committees not disclosed in MOBX filings |
| Belden | Director | Current | Public company directorship; committees not disclosed in MOBX filings |
Board Governance
- Committee assignments: Chair, Nominating Committee; Member, Compensation Committee. Not on the Audit Committee.
- Committee structure/meetings (FY2024): Audit (Chair: Kurt Busch; 4 meetings), Compensation (Chair: Frederick Goerner; 1 meeting), Nominating (Chair: David Aldrich; no meetings disclosed for 2024).
- Independence: Board determined Aldrich is independent under Nasdaq standards.
- Attendance: Each incumbent director attended at least 75% of aggregate Board and applicable committee meetings during 2024.
- Classified board: Aldrich is Class II (term expires 2026).
Fixed Compensation
| Component | Amount / Terms | Period / Status | Source |
|---|---|---|---|
| Annual cash retainer (non-employee directors) | $150,000 | FY2024 earned | |
| Annual cash retainer (non-employee directors) | $200,000 (payable quarterly; pro-rated for partial quarters) | Approved Jan 22, 2024; ongoing policy |
Notes: No additional committee chair/member fees or meeting fees disclosed beyond the base retainer and equity elements.
Performance Compensation
| Award Type | Shares / Terms | Grant/Approval Date | Vesting / Notes |
|---|---|---|---|
| RSUs (special grant for Nasdaq listing contributions) | 50,000 RSUs to David Aldrich | Approved by stockholders Jan 3, 2025 | Vesting terms not specified in proxy; one-time grant to directors influential in listing |
| RSUs (annual awards policy) | 20,000 RSUs annually | Approved Jan 22, 2024; first awards at next Board meeting after Dec 21, 2024 | Delivery timing to be determined by Board |
| Stock options (legacy board agreements) | Option to purchase 20,000 shares; 8,000 vest immediately; remaining 12,000 vest 1,000/month over 12 months | 2021 board agreements | Applies to non-employee directors incl. Aldrich; agreement auto-renews upon reelection |
No director performance metrics (e.g., revenue/EBITDA/TSR) tied to director equity grants are disclosed.
Other Directorships & Interlocks
| Item | Details |
|---|---|
| Current public boards | indie Semiconductor; Belden |
| MOBX compensation committee interlocks | None — no executive officer of MOBX served on a board/comp committee of an entity with MOBX insiders serving reciprocally (past year). |
| Related party transactions involving Aldrich | None listed in “Certain Relationships and Related Transactions” (items disclosed involve other directors/executives). |
Expertise & Qualifications
- Industry leadership: Former CEO and Chairman in semiconductors (Skyworks); extensive communications and semiconductor sector experience.
- Governance: Chair of Nominating Committee; independent director per Nasdaq standards.
- Education: B.A. Providence College; MBA University of Rhode Island.
- Recognition: E&Y New England Entrepreneur of the Year (semiconductor); Massachusetts Technology Leadership Council CEO of the Year.
Equity Ownership
| As-of Date | Class A Shares Beneficially Owned | Class B Shares Beneficially Owned | Notes |
|---|---|---|---|
| Jan 10, 2025 | 169,628 (<1%) | 0 | Includes options to purchase 153,416 shares exercisable within 60 days |
| May 6, 2025 | 169,628 (<1%) | 0 | Includes options to purchase 153,416 shares exercisable within 60 days |
No disclosures of pledging or hedging by Aldrich; company maintains an insider trading policy for directors and officers.
Governance Assessment
- Committee leadership and effectiveness: Aldrich chairs Nominating and serves on Compensation, aligning with his extensive executive and board background; Board confirmed independence. Attendance thresholds were met for 2024. This supports baseline board effectiveness.
- Director pay mix and incentives: Non-employee director cash retainer increased from $150k (FY2024) to $200k (effective Jan 22, 2024). Equity is a meaningful component via RSUs (policy of 20,000 annually) and one-time 50,000 RSUs for listing contributions. This increases at-risk/equity-linked alignment but lacks disclosed performance conditions for directors.
- Potential red flags/conflicts (board-level context):
- Dual-class voting concentration: Special Meeting Proposal 3 sought approval of restricted Class B stock grants to certain insiders (not Aldrich) that would increase voting power (e.g., James Peterson to 27.0%; Frederick Goerner to 12.9%), potentially entrenching control and impacting governance dynamics, including committees on which Aldrich serves.
- Dilution events: Proposals to approve warrant exercises and repricing (Nasdaq Listing Rule 5635(d)) have potential dilutive effects; while capital-raising may be necessary, repeated actions can pressure shareholder value and raise governance scrutiny.
- Related-party and interlocks: No Aldrich-specific related party transactions disclosed; compensation committee interlocks none, reducing direct conflict risk in pay decisions.
Overall, Aldrich brings credible industry and governance experience, holds independent status, and leads nominations. The broader governance landscape at MOBX—dual-class voting concentration among other directors and equity actions requiring shareholder approvals—warrants investor attention for potential alignment and entrenchment risks unrelated to Aldrich personally.